SAN CLEMENTE, CA and MUMBAI, INDIA / ACCESSWIRE / August 19, 2022 / Mobile Global Esports Inc. (NASDAQ: MGAM) the mobile esports and social platform company that holds trademark and IP rights for collegiate esports tournaments, teams and players in India, today detailed the upcoming 2022/2023 collegiate esports tournament season, as well as open national championships and a game development competition.

"1,297 esports teams have participated in 27 MOGO tournaments in India over the last 18 months, competing in games such as Battlegrounds Mobile India (BGMI) and Valorant," said Mobile Global Esports CEO David Pross. "We are seeing significant growth in team entries, and we expect to have over 200 universities contending in the 70 tournaments for 10 games we have planned for the 2022/2023 academic year MOGO tournament season."

"In addition, last week, we opened registration for the ‘Millionaire Squad Challenge' in which the winning university ‘Call of Duty' team will win a million rupees and an opportunity to go pro as a MOGO-sponsored team. Millionaire Squad Challenge will be held in a four-zone format like MOGO's National Valorant and BGMI championships last year," Mr. Pross concluded.

In addition to funding tournaments and prize pools, proceeds from MOGO's recent NASDAQ IPO are also being used to support an esports game development competition in India.

"India has some of the best game developers and programmers in the world, and we want to support the development of a new Indian online multiplayer esports game," said Sunny Bhandarkar, head of MOGO Esports Pvt. Ltd. "We have announced an esports game development competition with a prize pool worth up to $500,000. We already have overwhelming interest from students at our partner universities and are looking at a timeline of slightly over one year to develop a superior game in India."

Details can be found at MOGO's website and Instagram, Facebook & Twitter social media accounts. Registration links follow:

2022/2022 University Team sign up: https://www.mogoesports.com/team-registration

'Millionaire Squad Challenge' registration: https://www.mogoesports.com/event-details/themillionairequad

Game Development contest information: https://www.instagram.com/p/ChadSqct0yq/

A 2022 FICCI EY Media and Entertainment Report estimates that active e-sports players in India had a 2x increase to 600,000 in 2021 over 2020, and that there are now over 100,000 esports teams, with viewership up from 600,000 hours in 2020 to just under 2 million hours in 2021.

About Mobile Global Esports Inc.

Mobile Global Esports ("MOGO" or "Mogo," or the "Company") was organized in March of 2021 to carry on and expand an esports business (the "Business") started by Sports Industry of India ("SII"), in 2016. Through a series of contracts, the rights to the Business were assigned to MOGO by SII and its affiliates beginning in October of 2021. MOGO is now building out and expanding the business created by SII, which is focused on the rapidly growing esports industry, with special emphasis on India and other South Asian markets. For more information about the Company, please visit MOGO's website and Instagram, Facebook & Twitter social media accounts. Investors can sign up for updates at MOGO Investor Relations Site: https://ir.mogoesports.com/alerts

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This release contains forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties and include statements regarding, among other things, our projected revenue growth and profitability, our growth strategies and opportunity, anticipated trends in our market and our anticipated needs for working capital. They are generally identifiable by use of the words "may," "will," "should," "anticipate," "estimate," "plans," "potential," "projects," "continuing," "ongoing," "expects," "management believes," "we believe," "we intend" or the negative of these words or other variations on these words or comparable terminology. In particular, these include statements relating to future actions, prospective products, market acceptance, future performance, results of current and anticipated products, sales efforts, expenses, and the outcome. These statements are based on our management's expectations, beliefs and assumptions concerning future events affecting us, which in turn are based on currently available information. These assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking statements are reasonable, our expectations may prove to be incorrect.

Media Contact: Rich Schineller, 941.780.8100, rich@prmgt.com

SOURCE: Mobile Global Esports